| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $31M | $7M | $6M | 344.6% | 383.3% |
| Op. Income | -$2M | -$2M | -$10M | -9.8% | 80.6% |
| Gross Margin | 3.1% | 8.8% | 19.9% | -5.7pp | -16.7pp |
| Net Margin | -7.4% | -27.6% | -152.0% | 20.2pp | 144.6pp |
| EPS (Diluted) | $-0.05 | $-0.04 | $-0.21 | -19.1% | 76.5% |
| Free Cash Flow | $3M | $220.7K | $203.6K | 1439.3% | 1568.5% |
| Item | Amount |
|---|---|
| REVENUE | $31M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $957.0K |
| R&D Expenses | $0 |
| Selling & Marketing | $146.0K |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $33M |
| OPERATING INCOME | -$2M |
| Interest Income | $120.0K |
| Interest Expense | $356.0K |
| Other Income/Expenses | -$831.0K |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | -$516.0K |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $1.2B |
| EBIT | -$2M |
| EBITDA | $1.2B |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $400.9K |
| Stock-Based Compensation | $520.7K |
| Deferred Income Tax | -$675.8K |
| Other Non-Cash Items | $681.9K |
| Change in Working Capital | $5M |
| OPERATING CASH FLOW | $3M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $500.6K |
| NET CASH FROM INVESTING | $500.6K |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$138.1K |
| NET CASH FROM FINANCING | -$71.3K |
| FREE CASH FLOW | $3M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6M |
| Short-Term Investments | $6M |
| Net Receivables | $26M |
| Inventory | $2M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $42M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $11M |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $17M |
| TOTAL ASSETS | $59M |
| Account Payables | $26M |
| Short-Term Debt | $16M |
| Deferred Revenue | $3M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $58M |
| Long-Term Debt | $10M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $784.3K |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $13M |
| TOTAL LIABILITIES | $70M |
| Common Stock | $55.6K |
| Additional Paid-In Capital | $101M |
| Retained Earnings | -$109M |
| Treasury Stock | -$2M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$12M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$12M |
| TOTAL LIABILITIES & EQUITY | $59M |
| Total Debt | $28M |
| Net Debt | $23M |
